Carvana (NYSE:CVNA) Rating Reiterated by JMP Securities

Carvana (NYSE:CVNA)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $80.00 target price on the stock. JMP Securities’ price target would indicate a potential upside of 14.66% from the company’s current price.

Several other analysts also recently commented on CVNA. William Blair raised shares of Carvana from a “market perform” rating to an “outperform” rating in a research report on Friday, February 23rd. Morgan Stanley upped their target price on shares of Carvana from $32.00 to $45.00 and gave the company an “underweight” rating in a research note on Monday, February 26th. Jefferies Financial Group upgraded shares of Carvana from an “underperform” rating to a “hold” rating and upped their target price for the company from $30.00 to $85.00 in a research note on Tuesday, March 12th. Royal Bank of Canada upgraded shares of Carvana from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $45.00 to $90.00 in a research note on Friday, March 8th. Finally, Raymond James upgraded shares of Carvana from an “underperform” rating to a “market perform” rating in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.53.

Carvana Price Performance

Carvana stock traded down $0.87 during mid-day trading on Wednesday, reaching $69.77. 3,036,347 shares of the company traded hands, compared to its average volume of 6,205,572. The firm’s 50 day moving average price is $74.05 and its 200 day moving average price is $51.87. The firm has a market capitalization of $14.09 billion, a price-to-earnings ratio of 128.61 and a beta of 3.32. Carvana has a 52-week low of $6.70 and a 52-week high of $94.04.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.97) earnings per share. On average, sell-side analysts anticipate that Carvana will post -3.4 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, Director Neha Parikh acquired 1,300 shares of the business’s stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $77.00 per share, with a total value of $100,100.00. Following the acquisition, the director now directly owns 58,495 shares in the company, valued at approximately $4,504,115. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Neha Parikh acquired 1,300 shares of the business’s stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $77.00 per share, with a total value of $100,100.00. Following the acquisition, the director now directly owns 58,495 shares in the company, valued at approximately $4,504,115. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the completion of the transaction, the insider now directly owns 3,312,500 shares of the company’s stock, valued at $265,430,625. The disclosure for this sale can be found here. Insiders sold a total of 187,883 shares of company stock valued at $15,505,178 in the last three months. 17.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Blue Trust Inc. purchased a new position in shares of Carvana in the fourth quarter valued at $29,000. Captrust Financial Advisors lifted its position in Carvana by 270.9% in the second quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock worth $30,000 after buying an additional 967 shares during the last quarter. Hanseatic Management Services Inc. bought a new stake in Carvana in the third quarter worth $34,000. Parallel Advisors LLC lifted its position in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after buying an additional 194 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in Carvana by 14,831.6% in the fourth quarter. Meeder Asset Management Inc. now owns 8,511 shares of the company’s stock worth $40,000 after buying an additional 8,454 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.